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The Exotic Euro

Euro/USD$ has become increasingly difficult to trade in the past 2-4 weeks.

And I suspect the supposed 'risk-on' equity market correlation is now illusory.

Price action suggests HEAVY option (hedging) activity below/around 1.45-ish.

What barriers? What expiries? Only the trading desks know. 

Fundamentals are of little concern right now.

Technicals are of little use right now.

But resolution appears close (a clear-out towards 1.46?) and today might be interesting.